Bitcoin Rises As Oil Drops

Hello traders everywhere. Bitcoin's meteoric rise has continued through the long holiday weekend. When the markets closed on Wednesday Bitcoin had just surpassed 8K to hit an all-time high of $8,281.62. Much to my surprise this morning it had breached 9k to hit an all-time high of $9,725.26 in early hours trading.

Crude Oil had dropped over 2% in early hours trading before backing of the low of the day and trading down a little over 1% on the day. The drop comes on the heels of a rise to the highest level in 2 years.

The recent weakness is due to U.S. drillers expanding operations while OPEC and Russia prepare to discuss longer supply curbs in a meeting later this week.